SCRIPPS FLORIDA FUNDING CORPORATION ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2013 2013 BOARD OF DIRECTORS DAVID J. GURY, CHAIRMAN ∙ DR. PAMELLA DANA, VICE CHAIRMAN C. GLEN GED ∙ C. GERALD GOLDSMITH ∙ MARK J. KASTEN THOMAS G. KUNTZ ∙ RICHARD M. LUCERI, M.D. EDWARD SABIN ∙ ART WOTIZ SARA MISSELHORN, PROJECT DIRECTOR 130 SCRIPPS WAY, SUITE B41 JUPITER, FL 33458 (561)655-9669
[email protected] SCRIPPS FLORIDA FUNDING CORPORATION ANNUAL REPORT For Year Ended September 30, 2013 INTRODUCTION Florida Statute 288.955 (the “Enabling Statute”) created Scripps Florida Funding Corporation (“SFFC”) to facilitate the establishment and operation of a biomedical research institution for the purposes of enhancing education and research and promoting economic development and diversity. In addition, the Enabling Statute charged SFFC with the obligation to assure the compliance by The Scripps Research Institute (“TSRI”) with the Enabling Statute and the agreement between SFFC and TSRI (the “Operating and Funding Agreement”). The Enabling Statute provides that SFFC shall prepare or obtain certain reports, audits, and evaluations of TSRI’s compliance with the performance expectations and disbursement conditions contained in the Enabling Statute. As such, SFFC is submitting this Annual Report to the Governor, the President of the Senate, and the Speaker of the House, as required by the Enabling Statute to be submitted by December 1 of each year. This SFFC Annual Report addresses the activities and outcomes of SFFC and Scripps Florida (“SF”) for the fiscal year ended September 30, 2013 (“Fiscal 2013”). The Scripps Florida Annual Report addressed the activities and outcomes of Scripps Florida for the year ended June 30, 2013, and SFFC received the Scripps Florida Annual Report on August 25, 2013.